Are You Required To Buy The House In A Rent To Own Home Contract? | Written by Eugene Hoffman

Are You Required To Buy The House In A Rent To Own Home Contract?

Tips, tricks, and advice to find great rent to own properties around – plus info on ways to get the best deals and how to avoid scams.

A really common question and concern from people looking at renting to own an Orlando house are “are you required to buy the house in a rent to own home contract ?” at the end of the rental term.

As an example…

… let us say you found a great Orlando rent to own home and agreed on an attractive rent to own agreement (lease option) with the seller that looked like this…
– $10k upfront
– $1,800/mo
– $200k purchase price option at the end of the 24-month rental agreement

Under that example, you have the opportunity to purchase the home for $200k within 24 months (often times you can purchase the home BEFORE the rental agreement ends with no problem).

So, Are You Required To Buy The House In A Rent To Own Home Contract / Agreement?

If the 24 months comes up and you're just not ready to purchase the home… but you still love the home and want to live there still… just connect with the seller and see if they're willing to offer you an extension on the rent to own contract.

Often times, if you've been a great renter and show a genuine intent to buy the house… the seller will work with you (it's in everyone's best interest).

If the 24 months comes up and you're just not ready to buy and you don't want to stay in the house… you can move out and not purchase the house… usually with no penalty.

What Happens To The Money You've Paid The House Owner Up To This Point?

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